Nearing Significant Resistance @ 1246.09 | $Russell $IUX

INDEX:IUX   Russell 2000 Index
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As this small cap nears a significant resistance level at TG-1 = 1246.09, I added multi-year momental lines projections into parallels to highlight significant dynamic and static support resistance areas.

The momental lines acting as dynamic support/resistance across the field can also help correlated with the static target levels defined by the horizontal lines. At this point, price is approaching both its upper momental channel and TG-1, thus pointing to a probable resistance level , if not by our system-defined TG-1, then by the prior 5 point validation at that channel border between late 2008, early 2010, and three more times in early 2011.

We'll keep watching.


David Alcindor
Predictive Analysis & Market Forecasting
- TradingView.com Moderator, Alias: 4xForecaster

PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark ), or other well known patterns. However, we concentrate mainly on Shark , 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.

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Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

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27 APR 2014 - Chart Update:

$IUX - #Russell2000 remains atop its median channel. Target from 10 MAR 2014 remains in force and in sight

David Alcindor
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